Cardinal Point Capital Management ULC Grows Stake in Brookfield Corporation $BN

Cardinal Point Capital Management ULC grew its position in shares of Brookfield Corporation (NYSE:BN) by 48.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,106 shares of the company’s stock after purchasing an additional 16,911 shares during the period. Cardinal Point Capital Management ULC’s holdings in Brookfield were worth $2,396,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in shares of Brookfield during the 4th quarter worth $27,000. Hilltop National Bank lifted its holdings in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after acquiring an additional 241 shares during the last quarter. New England Capital Financial Advisors LLC lifted its holdings in shares of Brookfield by 50.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after acquiring an additional 251 shares during the last quarter. ST Germain D J Co. Inc. lifted its holdings in shares of Brookfield by 49.9% during the 4th quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock worth $37,000 after acquiring an additional 270 shares during the last quarter. Finally, First Horizon Corp bought a new stake in shares of Brookfield during the 3rd quarter worth $40,000. 61.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. National Bank Financial lifted their price objective on shares of Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Royal Bank Of Canada lifted their price objective on shares of Brookfield from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. BMO Capital Markets lifted their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price objective (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $56.39.

Brookfield Stock Performance

Shares of BN stock opened at $45.21 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.21 and a current ratio of 1.32. Brookfield Corporation has a fifty-two week low of $37.54 and a fifty-two week high of $49.56. The stock has a 50 day moving average price of $42.64 and a two-hundred day moving average price of $44.93. The company has a market capitalization of $110.79 billion, a P/E ratio of 91.63 and a beta of 1.55.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Analysts expect that Brookfield Corporation will post 2.95 earnings per share for the current year.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.